Sierra Space CEO Tom Vice Retires as Company Pushes Toward Spaceplane Launch

/in /tarafından

Sierra Space, the space spin-off of Sierra Nevada Corp, announced on Monday that CEO Tom Vice has retired, with billionaire Chairman Fatih Ozmen stepping in as interim CEO. This leadership change comes as the company nears the anticipated launch of its long-delayed Dream Chaser spaceplane.

Sierra Space, valued at $5.3 billion and spun off in 2021, has been working for nearly a decade to develop Dream Chaser, a spaceplane intended to transport cargo to and from low-Earth orbit. The spaceplane is expected to compete with SpaceX’s Dragon capsules. Under Vice’s leadership, Sierra Space also established a partnership with Jeff Bezos’ Blue Origin to build an inflatable space station, which would be offered to NASA as a potential commercial replacement for the International Space Station. Additionally, Sierra Space secured a $740 million contract from the Pentagon last year to build satellite platforms.

However, the company has faced challenges in launching Dream Chaser. Initially set to launch in 2024 aboard United Launch Alliance’s Vulcan rocket, the spaceplane was removed from the mission due to development delays.

Sierra Space thanked Tom Vice for his leadership during his tenure and wished him well in his retirement. The company’s backers include AE Industrial Partners, BlackRock, and Japanese investors like MUFG Bank and Kanematsu, following a $290 million funding round in 2023.

 

Funding for India’s Space Industry Drops 55% in 2024 Amid Global Investment Decline

/in /tarafından

India’s space sector saw a significant decline in funding in 2024, dropping by 55% to $59.1 million from $130.2 million the previous year, according to market intelligence platform Tracxn. This decrease marks the first funding dip in the sector in at least five years and reflects a broader global trend, with space industry investments worldwide falling by 20%.

Despite the decline, India’s space industry has made substantial strides, with global recognition for achievements such as the Chandrayaan-3 lunar landing and the Aditya-L1 solar probe launch. The Indian government is actively supporting the sector, with a 10 billion rupee ($119 million) fund introduced in October 2024 to assist space startups, along with a vision to expand India’s share of the global commercial space market by 2033.

While 2024 funding levels have fallen, industry experts are optimistic about the future. Vishesh Rajaram, managing partner at Speciale Invest, which supports Indian space tech startups, noted that the next 12 months are crucial for the sector’s growth. Pawan Chandana, founder of Skyroot Aerospace, also emphasized that investment activity is likely to rise again as key companies approach important milestones in 2025.

The Indian Space Research Organisation (ISRO) has projected a 20%-30% budget increase to further support deep space exploration and the development of heavy-lift rockets.

 

CISA Reports No Indication of Broader Impact from Treasury Department Cyber Breach

/in /tarafından

The U.S. Cybersecurity and Infrastructure Security Agency (CISA) stated on Monday that there is “no indication” the recent cyber breach at the U.S. Treasury Department has affected any other federal agencies. This followed a report that Chinese hackers compromised several computers at the Treasury, stemming from a breach at cybersecurity contractor BeyondTrust.

While BeyondTrust confirmed that a limited number of its clients were affected, the company has not provided further details regarding which clients may have been impacted. The forensic investigation into the breach is still ongoing, and BeyondTrust has yet to confirm additional details about the scope of the attack.

Reports have suggested that the hackers specifically targeted the U.S. Treasury office responsible for administering economic sanctions, likely aiming to access information about Chinese entities under consideration for U.S. financial sanctions. This attack is part of an ongoing series of cyber incidents attributed to Chinese state-sponsored actors.

Republican lawmakers have called for a briefing on the incident. In response, Chinese Embassy spokesperson Liu Pengyu dismissed the claims, calling the reports “irrational” and part of “smear attacks” against China.